Hello Aditya,
There are couple of videos available on YouTube to accomplish this task. Follow these steps for the same. Let's consider 2 rectangular blocks placed on top of another, as shown in screenshot below.
Here are the steps required when you want to parameterize top solid with respect to bottom solid:
1. Select the top solid from design tree or click RMB 3 times to select the required solid (RMB-Right mouse button).
2. After selecting the body, you need use the MOVE tool. When move tool is active, SpaceClaim will ask you in what direction you need to move the body.
3. Select any of the direction you need, you can translate in 3 axes and rotate in 3 axes.
4. After selecting the direction of move, the tool will activate a small window just beside the selected body. Refer the screenshot below.
5. After selecting the ruler option, you need to specify the reference geometry/location you want parameterize the solid.
6. For your case, if you selected component 1 using move tool, then your component 2 should be reference solid. Reference can be face or line also.
7. After selecting the reference geometry, SpaceClaim will pop up a bold P symbol, right next to dimension cell.
8. When you click on P symbol, SC creates a parameter for you.
9. You can then, chose whatever distance you require in between those components. SC will move the body accordingly.
All the best,
Nanda.